Wealth Enhancement Advisory Services LLC Boosts Holdings in Mohawk Industries, Inc. $MHK

Wealth Enhancement Advisory Services LLC increased its position in Mohawk Industries, Inc. (NYSE:MHK) by 61.3% during the third quarter, HoldingsChannel.com reports. The firm owned 24,248 shares of the company’s stock after acquiring an additional 9,217 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Mohawk Industries were worth $2,972,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. lifted its stake in shares of Mohawk Industries by 7.4% in the second quarter. Invesco Ltd. now owns 1,957,197 shares of the company’s stock worth $205,192,000 after buying an additional 135,246 shares in the last quarter. State Street Corp raised its stake in shares of Mohawk Industries by 2.1% in the second quarter. State Street Corp now owns 1,915,831 shares of the company’s stock worth $200,856,000 after purchasing an additional 39,556 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Mohawk Industries by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,829,830 shares of the company’s stock valued at $235,902,000 after purchasing an additional 9,516 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Mohawk Industries by 0.3% during the second quarter. Geode Capital Management LLC now owns 1,358,212 shares of the company’s stock valued at $142,124,000 after buying an additional 4,085 shares during the last quarter. Finally, Pzena Investment Management LLC increased its holdings in Mohawk Industries by 5.4% in the 2nd quarter. Pzena Investment Management LLC now owns 1,175,775 shares of the company’s stock worth $123,268,000 after buying an additional 59,831 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MHK has been the subject of a number of research analyst reports. Evercore ISI cut their target price on shares of Mohawk Industries from $124.00 to $118.00 and set an “in-line” rating for the company in a research report on Wednesday, November 19th. Wolfe Research downgraded Mohawk Industries from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Wall Street Zen cut Mohawk Industries from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Wells Fargo & Company lowered their target price on Mohawk Industries from $125.00 to $110.00 and set an “equal weight” rating for the company in a research report on Monday, December 15th. Finally, Jefferies Financial Group decreased their price target on shares of Mohawk Industries from $134.00 to $128.00 and set a “hold” rating on the stock in a research note on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.83.

Mohawk Industries Trading Down 0.3%

MHK stock opened at $119.66 on Thursday. The firm’s fifty day simple moving average is $113.76 and its two-hundred day simple moving average is $119.63. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 2.14 and a beta of 1.22. The company has a quick ratio of 1.24, a current ratio of 2.25 and a debt-to-equity ratio of 0.21. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $143.13.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $109.00, for a total transaction of $294,300.00. Following the completion of the transaction, the insider owned 67,893 shares in the company, valued at $7,400,337. The trade was a 3.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 17,400 shares of company stock valued at $1,922,294 over the last ninety days. 17.40% of the stock is owned by company insiders.

Mohawk Industries Profile

Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.

The company’s product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.